Swell Financial

06/21/2023

🔥 Discover the Power of High-Yield Savings Accounts 🔥

Gone are the days of it being acceptable for your big bank to get away with paying you 0.01% on your hard-earned money.

After all, 𝐲𝐨𝐮 𝐝𝐞𝐬𝐞𝐫𝐯𝐞 𝐛𝐞𝐭𝐭𝐞𝐫!

Finding the right savings account can mean the difference of quite literally hundreds if not thousands of dollars each year.

Seems simple enough right?

You would think but I still, as a Financial Planner, see so many individuals with oversized bank balances just sitting there collecting 0.01%

02/28/2023

Did You Know: On average, the total all-in lifetime medical expenses in retirement can add up to close to $300,000!

This is a lot to take in.

But know that you are not alone.

According to a PWC research study 38% of Baby Boomers said that rising health care costs was their #1 fear in retirement ... even higher than the fear of running out of money!

But there is something you can do!

💡IMPORTANT: Budgeting for health care today is absolutely within your control and is something you can plan ahead for.

Health care is likely to be one of your largest expenses in retirement, even with the help of Medicare. According to a study conducted by Fidelity Investments, the average combined lifetime Medicare premiums for you and your spouse can amount to well over $100,000! As you can see in the chart below,

11/21/2022

Friendly Reminder: Be sure to take your Estate Plan for a "test drive"

Having an Estate Plan is one thing, making sure it works correctly when you need it most, is another.

1️⃣ Try going into the local branch of your bank with your Financial Power of Attorney document and see if they would accept instructions from the person you named as attorney-in-fact.

2️⃣ Go into your Pharmacy or Doctor's Office with your designated attorney-in-fact and see if your Medical Power of Attorney is set up correctly and would be accepted.

3️⃣ Call your Financial Advisory firm or Investment Firm and see if the Power of Attorney you have on file with them is set up correctly and that they would speak with the named Financial Power of Attorney/Trustee.

11/10/2022

Anytime I found myself in a batting slump during college baseball, my hitting coach would always remind me:

"Go back to the basics"

The same logic applies to a market correction when you're trying to figure out how to invest when everything seems down.

Go back to your plan and remind yourself why you're invested.

Here are some great tips from MarketWatch which surveyed several advisors on what investing looks like in today's landscape.

Grateful for the opportunity to contribute and weigh in!

Recession threats are intensifying with some projections calling it a sure thing in 2023.

08/05/2022

Remember that game where you could choose between having ONE marshmallow right now or ... You could wait and have TWO at a later time?

Well, Social Security kind of acts in the same way.

It pays to have a game plan mapped out before heading into retirement because, for many, Social Security benefits will make up a significant piece of one's retirement income.

Each person's situation is unique but if you're able to, why not get paid a little extra just for delaying your benefits and being patient?

Check out this month's blog post on the "10 Moves to Consider Before Claiming Social Security"

Social Security is anything but straightforward. Knowing when to take your benefits could be the difference between hundreds of thousands of dollars over your entire retirement.

08/03/2022

Progress is defined as forward or onward movement towards a destination.

Planning for retirement looks different during every season of life.

Sometimes cash is easy to come by and other times, it can feel like you're doing everything just to keep your head above water.

Here are (4) stages from doing the bare minimum to absolutely crushing it that you can use as a benchmark:

Step 01

- Pay off any debts and work towards getting control back over your paycheck
- Build your Emergency Savings up
- Get your 401(k) match -- It's literally free money

Step 02

- Max out your IRA or Roth IRA at $7,000/year (Over Age 50)
- Contribute MORE than just the match to your 401k

Step 03
- Max out your 401k at $27,000/year (Over Age 50)
- Start, Fund, and Contribute to a Health Savings Account (HSA)

Step 04
- Start investing consistently into your taxable brokerage account
- Max out your HSA Account ($4,650 Single/$8,300 Married)

And most importantly, remember to enjoy life. This is a process.
You can save for tomorrow and still enjoy today, LIVE IN THE IN-BETWEEN

07/25/2022

Show me your calendar and your bank statement, and I’ll show you what you really value -- Peter Drucker

There is so much noise and negativity about spending and budgeting today that I'd like to clear a few things up.

You don't need to deprive yourself to successfully reach retirement.

INSTEAD ... Conscious Spending means spending MORE on the things that bring you joy and happiness

and spending LESS on the mindless purchases and automatic subscriptions you forget about or never use.

🚨Newsflash - You can still retire successfully even by:

• Getting your morning coffee at Starbucks
• Paying $150+/mo for a gym membership
• Having the "Premium" version of Spotify
• Going out to dinner at a nice restaurant

Spend based on what is important to you and be vigilant about the rest.

Using a budgeting app like Mint, YNAB, or Every Dollar is a great place to start and show you where your money is going.

Learn about topics like this☝️and more in the free eBook below:

https://www.swellfinancialpartners.com/your-ideal-retirement

07/22/2022

You’ve been working hard for decades. You’re saving. You're investing.

You. Are. Doing. Everything. Right ... But now what?

What’s your next move?

Suddenly, the idea of retiring doesn’t seem that far away.

How do you know how much further you have to go?

Wouldn’t it be helpful to have a plan that was intentionally designed to tell you those things?

Wouldn't it be helpful to ensure that you have done everything within your power to retire successfully?

Look no further! I'm thrilled to announce the first of many eBooks on "Planning your Ideal Retirement"

Preparing to retire can be confusing, but it doesn't have to be.

Grab your free copy today 👇

Your Comprehensive Guide to Ideal Retirement Awaits Planning for retirement can be confusing, but it doesn’t have to be.The next few years are going to be critical in determining the type of retirement you have. This guide is designed to walk you though: Proactive steps to start implementing today...

05/16/2022

Retirement on its own can be a scary thing.

Throw in a pandemic, rising interest rates, and inflation ... well, that's a whole different animal.

Swell Financial was recently interviewed by Policygenius for tips on what to do if you find yourself facing an unexpected early retirement.

'The combination of the shock and uncertainty brought about by the pandemic plus the accompanying recession caused many of these unemployed older workers to give up, thinking there was no way they would ever get hired again'

05/16/2022

Trying to beat the market last year: Not too difficult.

Trying to beat the market this year: Much more difficult.

Trying to beat the market consistently, year after year: Extremely difficult.

Planning ahead and finding ways to make your dollars work smarter: Much easier

And might I add, way less stressful.

If this is true, the idea that we can actually find ways to do more with our money, pay less in taxes, and invest smarter ...

Then why aren't we doing it?

Why aren't more people talking about it?

You want to know the truth? Because it's boring

Because the reward isn't instant.

Instead, it takes years of hard work and delicate planning.

But can I tell you something? IT IS WORTH IT.

Beginning to plan today will allow you to have more control over:

✅ Paying less taxes in retirement
✅ Choosing to make work optional
✅ Giving more money away freely
✅ Making your dollars last longer
✅ Potentially increasing your Social Security paycheck
✅ Knowing where and how to invest your money

Planning for retirement can be confusing, but it doesn't have to be.

05/16/2022

Financial planning is a VERB.

Constantly moving, shifting, and adapting with your life.

You deserve a plan that keeps up with you.

www.swellfinancialpartners.com/financial-planning

Financial Planning Your Financial plan is the centerpiece to your personal finances    Financial planning is a VERB that is constantly moving, shifting and adapting with your life. You deserve a plan that keeps up with you.Swell has partnered with the industry-leading financial planning softwa...